Comments
IVRCL Infrastructures & Projects Ltd, has brought about changes in its top management with the objective of driving its business focus along verticals, with mining and railways emerging as new thrust areas with international business.
This new management approach is aimed at greater focus on specific sector, with each head addressing that area as a CEO owning up that business.
“With this, we now have a new head Mr A.S. Rao, to look into mining sector. Mr Prasad will head business opportunities abroad and Mr Vijay Kumar to look into construction and related business. We are also planning a succession line, which will come into play by 2013,” Mr E. Sudhir Reddy, Chairman and Managing Director of IVRCL, said.
Speaking to Business Line , Mr Reddy said “railways, mining and large tunnels are new thrust areas. We are engaged with a Rs 3,000-crore tunnel project at Bandhup. Going forward, we will play a bigger role in coal mining and washeries harnessing the group company expertise of Hindustan Dorr Oliver and DavyMarkham.”
“Apart from coal mining, we have bid for opportunities in gold mining at Hutti and pre-qualified for projects of Hind Copper,” he said.
OVERSEAS THRUST
“IVRCL is set to bag overseas orders worth about Rs 5,000 crore, including a large project ($1.8 billion) in Abu Dhabi, along with Japanese and other consortium players in the railways business. We are implementing a few projects overseas including a hydel project in Nepal,” he said.
While water, power, roads and buildings continue to be main stream business, these areas open up a chain of opportunities. “Companies tend to become lazy after growing to a size. This restructure is aimed at energising the team. We had initiated some changes in 2002, and this is similar one. As a part of this initiative, we have set up a management development centre,” he said.
“The company currently has an order book of over Rs 24,000 crore, and is poised to add few more good projects having being listed No. 1 for several projects within the country and overseas,” Mr Reddy said.
“The company name will change to IVRCL Ltd, with effect from April 20,” the company informed stock exchanges
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.